moldybluecheesecurds 2

Tuesday, September 23, 2008

Bernanke: pass this bailout or a recession is coming

Top story:
Federal Reserve Chairman Ben Bernanke bluntly warned reluctant lawmakers Tuesday they risk a recession with higher unemployment and increased home foreclosures if they fail to pass the Bush administration's $700 billion plan to bail out the financial industry.
Hmm.  The administration comes up with a plan that is getting a lot of skepticism, wants it passed in a hurry and with little guarantee that it can solve the crisis.   Sound familiar?  Let's flash back to 2002:
On NBC's "Meet the Press," Vice President Dick Cheney accused Saddam of moving aggressively to develop nuclear weapons over the past 14 months to add to his stockpile of chemical and biological arms.

...[Condoleezza] Rice acknowledged that "there will always be some uncertainty" in determining how close Iraq may be to obtaining a nuclear weapon but said, "We don't want the smoking gun to be a mushroom cloud."
That kind of talk lying led to six years in Iraq with no clear strategy and a multi hundred billion dollar price tag.  Ready to bring our Iraq strategy home?

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